GlycoMimetics (NASDAQ:GLYC) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Thursday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

GlycoMimetics Stock Up 2.7 %

NASDAQ GLYC opened at $0.27 on Thursday. The stock’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.25. GlycoMimetics has a 52 week low of $0.14 and a 52 week high of $3.18.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. On average, research analysts anticipate that GlycoMimetics will post -0.08 EPS for the current fiscal year.

Institutional Trading of GlycoMimetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caxton Corp bought a new stake in GlycoMimetics during the 4th quarter valued at approximately $51,000. ADAR1 Capital Management LLC raised its stake in GlycoMimetics by 626.1% during the 4th quarter. ADAR1 Capital Management LLC now owns 331,827 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 286,127 shares during the period. Jefferies Financial Group Inc. bought a new stake in GlycoMimetics during the 4th quarter valued at approximately $106,000. Wellington Management Group LLP bought a new stake in GlycoMimetics during the 4th quarter valued at approximately $352,000. Finally, VR Adviser LLC bought a new stake in GlycoMimetics during the 4th quarter valued at approximately $747,000. Institutional investors own 75.19% of the company’s stock.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a biotechnology company, focuses on the discovery and development of therapies for cancers and inflammatory diseases in the United States. It develops uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as completed phase 3 trial to treat relapsed/refractory AML.